Restricted cash consists of deposits in operating accounts and reflects the balance of unspent proceeds associated with the loan payable to related party. As of March 31, 2026, the restricted cash balance was $3.1 million (December 31, 2025 - $3.2 million).

On August 27, 2024, the Company and Hanmi Pharmaceutical Co. Ltd. (“Hanmi”) entered into a loan agreement, pursuant to which Hanmi agreed to loan $10.0 million to the Company (the “Hanmi Loan Agreement”). Under the terms of the Hanmi Loan Agreement, the loan proceeds are restricted in their use and must be used for tuspetinib-related business operation purposes, unless otherwise authorized by Hanmi. The use of the funds is also contingent upon the Company meeting specific manufacturing and clinical milestones. As of March 31, 2026, the restricted cash pursuant to the Hanmi Loan Agreement was fully utilized and no unspent proceeds associated with the Hanmi Loan Agreement remained. See Note 7: Related party transactions.

On June 18, 2025, the Company and Hanmi entered into a facility agreement (the "Hanmi Facility Agreement"), pursuant to which Hanmi provided an uncommitted facility for up to $8.5 million, administered through multiple advances for the purpose of the continued clinical development of tuspetinib and to fund operations of the Company. Advances under the Hanmi Facility Agreement may be provided in one or more (but no more than five advances) until December 31, 2025. No single advance shall be for an amount in excess of $2.5 million. As of March 31, 2026, the restricted cash pursuant to the Hanmi Facility Agreement was fully utilized and no unspent proceeds associated with the Hanmi Facility Agreement remained. See Note 7: Related party transactions.

On September 22, 2025, the Company and Hanmi entered into an amended facility agreement (the "Amended Facility Agreement"), which amended and restated the Hanmi Facility Agreement entered into on June 18, 2025, pursuant to which Hanmi provided an additional uncommitted facility for up to $11.9 million, administered through multiple advances for the purpose of the continued clinical development of tuspetinib and to fund operations of the Company. Advances under the Amended Facility Agreement may be provided in one or more (but no more than eight advances) until December 31, 2025, subsequently extended to January 31, 2026. No single advance shall be for an amount in excess of $2.0 million or for an amount that is less than $0.5 million. As of March 31, 2026, the restricted cash pursuant to the Amended Facility Agreement was fully utilized and no unspent funds associated with the Amended Facility Agreement remained. See Note 7: Related party transactions.

On February 23, 2026, the Company and Hanmi entered into a second amended facility agreement (the "Second Amended Facility Agreement"), which amended and restated the Hanmi Facility Agreement entered into on June 18, 2025 and the Amended Facility Agreement entered into on September 22, 2025, pursuant to which Hanmi provided an additional uncommitted facility for up to $11.1 million, administered through multiple advances for the purpose of the continued clinical development of tuspetinib and to fund operations of the Company. Advances under the Second Amended Facility Agreement may be provided in one or more (but no more than six advances) until May 31, 2026. No single advance shall be for an amount in excess of $2.0 million or for an amount that is less than $0.5 million. Additionally, Hanmi may cancel availability under the Second Amended Facility Agreement at any time without notice, acting solely at its discretion. The restricted cash balance of $3.1 million reflects the balance as of March 31, 2026 of the unspent funds associated with the Second Amended Facility Agreement. See Note 7: Related party transactions. Also see Note 11: Subsequent events.